As medical transcription increases in popularity throughout the healthcare industry, many practices are beginning to look outside of their own staff for transcribing resources.
Outsourcing transcription services is an effective way to receive quality work while maintaining high, healthy profit margins. The debate over outsourcing largely accepts domestic outsourcing as a healthy employment alternative; it is when practices start offshoring, or outsourcing outside of the United States, that debates heat up.
Let’s take a look at the pros and cons of outsourcing your transcription needs at home in the U.S. versus sending business elsewhere around the world.
Pros and Cons of Outsourcing:
Pros of Outsourcing
By outsourcing work, company heads and staff are able to focus on their jobs and skills that they do best. For example, physicians and medical staff are trained to ensure quality patient care. Devoting hours or days to transcribing medical notes that can be done automatically and electronically overnight would decrease economic efficiency at the practice. In turn, this decreases the country’s overall economy efficiency.
Decreasing the cost of labor by downsizing employment or reducing the number of hours to expertly execute tasks increases company profit margins. Increased US-based profit margins means a healthier economy for the country, benefiting everyone at home.
Jobs for developing countries
Some people argue for outsourcing overseas not just because the cost of labor is low and beneficial to our own economy, but because offshore jobs provide work to citizens of countries who otherwise would not have an opportunity to find work and make money.
It is possible that, with the point above, international relationships can be bolstered by outsourcing work in offshore countries. If more U.S.-based companies outsource labor in developing countries and that outsourced work boosts the respective country’s economy, a mutually beneficial relationship evolves. Over time, these relationships might provide a steadiness in international relations.
That said, outsourcing work outside of the homeland receives plenty of critiques. Some of the reasons are listed below.
Cons of Outsourcing
Fewer jobs in the USA
The more jobs we give away to countries offshore, the fewer jobs we have available to citizens in need of work at home. Fewer Americans working eventually weighs on our economy, counteracting the economically driven pursuits of outsourcing overseas.
Limited quality control
When the outsourced company is operating at different hours, in a different language, and far across the globe, quality control is jeopardized, and the outsourcing company might not receive the work they expected or by the anticipated time.
Weak labor and environmental standards
In is no secret that different labor and environmental standards are enforced overseas. Many of these standards do not match up to the quality control that our government promises citizens can except in goods and services based in the U.S. Weak standards affect consumer decisions, company health and most importantly, the health and quality of life for workers overseas and their respective environmental conditions.
Mercedes Transcription is a top physician choice for transcription services. It is important to the values of our company to keep all work based in the U.S. so we can contribute to the health of our home economy while providing you elite, reliable transcription services.
How do we do it? By remaining a boutique firm, we avoid a ton of “big-company overhead” costs that would otherwise dig into our profits. Instead, we keep it small. We provide constant, attentive customer service, focus on 1:1 client relationships that encourage client retention and provide some of the most affordable pricing in the industry. Reach out to our team to learn more about our services and the perks of outsourcing your medical transcription needs.